Thaco invests in auto sales center in Quang Tri

Leading Vietnamese automaker Thaco plans to invest in its first auto sales center in Quang Tri province with a goal of selling 1,000 vehicles of different kinds per year.

According to the central province's administration, it will be the first Thaco project in Quang Tri. The project has a total investment of VND96 billion ($4.1 million), comprised of VND46 billion from the giant's equity and the rest from Vietcombank's Ho Chi Minh City Branch.

The center will cover an area of 19,401 square meters, with the aim of selling 1,000 vehicles per year and providing maintenance for a further 1,000.

It will be located in Trieu Giang commune, Trieu Phong district with basic facilities including a travel service workshop, bus loading showroom, bus service workshop, cafeteria and staff garage, and an auxiliary area. Construction is scheduled to start in July 2023 and be completed in September 2024.

Founded in 1997, Thaco initially traded in and repaired second-hand vehicles. In just 25 years, it has become an industry giant with corporations under its roof namely Thaco Auto (automobiles), Thagrico (agriculture), Thaco Industries (mechanics and support industries), Thadico (construction), Thilogi (logistics), and Thiso (commerce and service).

In December, Thaco launched three new ventures - a $550 million industrial arm, a $100 million mechanical center, and a $20 million (R&D) center.